The ETF Application | Institutional Moving Fast On Bitcoin Adoption
Recently what has been on the headlines as regards crypto space has being the adoption rate which is said to gradually increase over time, they have being so many saying that financial institution making way for the adoption of bitcoin in the near future.
We saw the the card giant Mastercard plotting out its intention of being like a bridge which will connect the traditional banks and blockchain which I think that this will also influence the adoption process.
Taking about the bitcoin ETF ; which I feel we should have an idea what the bitcoin ETF is all about.
Bitcoin exchange-traded funds (ETFs) are pools of bitcoin-related assets offered on traditional exchanges by brokerages to be traded as ETFs. The intent behind these ETFs is to give retail investors and investors not comfortable investing in cryptocurrencies access to them without actually owning them.
In a recent interview with a top executive of Coin base whose is known has John D’Agostino which he says that;
“These things just take time. Institutional inertia is a very real thing. I had a hedge fund where one of the guys who worked for me picked up his monitor and threw it through a window because the colors on his OMS, his order management system, changed. Just his colors. These are creatures of habit. There’s a lot of switching costs associated with adding new assets.
So for me, for someone who spent 15 years trying to get commodities to be mainstream, it’s actually moving fast. But I do understand why for somebody in the heat of the moment feels it’s glacial. But for institutional I think it’s moving very, very fast.”
He closed by saying the movement of SEC of recent and continuous pressure which is being mounted on them they will have no reason than to approve.
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LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
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